Kiwibank mortgages below predictions

Thursday 22 July 2004

A pilot project aimed at helping low to modest income earners buy their own homes has approved fewer applications than expected.

By The Landlord

400 people have bought houses under the Kiwibank In Reach home loan scheme and the bank has approved a further 200 loans.

Kiwibank has lent $43 million in the first 10 months of its 24-month trial.

When the government announced the project it expected about 1,800 loans worth $200 million would be approved during the two years.

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